Gold
Yesterday marked a turning point in the short-term downtrend. Since the rally formed a higher swing low around 4,531, it may now have a chance to break above the 4,843 level. The red trendline is also approaching this level. The zone above 4,843 is therefore expected to act as strong resistance. It should reach this level within a few days; otherwise, the rally attempt could fizzle out.
Resistance levels: 4,843; 4,923; 5,000; 5,312; 5,625; 5,938; 6,250.
Support levels: 4,375; 4,218; 4,062; 3,750.
